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Fly News Breaks for July 15, 2019
GPC
Jul 15, 2019 | 07:29 EDT
JPMorgan analyst Christopher Horvers lowered his price target for Genuine Parts to $104 from $114 ahead of the company's Q2 results on Wednesday. The analyst sees the stock as fully valued in the near term. The interest rate backdrop makes the stock's 2.9% yield attractive, but this is offset by underlying softness in the company's industrials division and moderation in automotive, Horvers tells investors in a research note. Further, he sees some downside risk to consensus estimates. The analyst keeps a Neutral rating on Genuine Parts.
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